FedEx Co. (NYSE:FDX) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its holdings in FedEx Co. (NYSE:FDX) by 7.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,487 shares of the shipping service provider’s stock after acquiring an additional 1,849 shares during the quarter. Daiwa Securities Group Inc.’s holdings in FedEx were worth $7,642,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in FedEx during the fourth quarter worth about $700,291,000. Capital International Investors grew its stake in shares of FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after purchasing an additional 2,163,622 shares during the period. Sentry LLC purchased a new position in shares of FedEx during the 4th quarter valued at approximately $307,007,000. Vanguard Group Inc. increased its holdings in shares of FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares in the last quarter. Finally, Putnam Investments LLC boosted its holdings in FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after buying an additional 798,084 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity at FedEx

In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the transaction, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the sale, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at $278,293.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,944 shares of company stock worth $9,882,355. Company insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FDX shares. TD Cowen began coverage on shares of FedEx in a report on Thursday, August 22nd. They issued a “buy” rating and a $334.00 price objective for the company. Raymond James reduced their price target on FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Morgan Stanley raised their price objective on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Stephens reaffirmed an “overweight” rating and set a $325.00 target price on shares of FedEx in a research note on Wednesday, June 26th. Finally, Wells Fargo & Company lifted their price target on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $313.96.

FedEx Price Performance

FedEx stock opened at $284.86 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $293.47 and a 200 day moving average price of $272.95. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The stock has a market cap of $70.10 billion, a P/E ratio of 16.53, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The business had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.94 EPS. Sell-side analysts anticipate that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s payout ratio is 32.04%.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.